Selected financial statement information and additional data for Diablo Enterprises Go-Kart Corporation is presented below Diablo Enterprises Go-Kart Corporation Balance Sheet and Income Statement Data December 31, December 31, 2020 2019 Current Assets Cash $193,000 $115,000 Accounts Receivable 218,000 316,000 Inventory 371.000 334,000 Total Current Assets 782.000 765.000 Property, Plant, and Equipment 1,241,000 1,122,000 Less: Accumulated Depreciation (476.000) (442.000) 765.000 680.000 Total Assets $1.547.000 $1.445.000 Current Liabilities Accounts Payable Notes Payable Income Taxes Payable Total Current Liabilities $187.000 51,000 85.000 323,000 $102,000 68,000 76,500 246,500 Bonds Payable Total Liabilities 340.000 663.000 391.000 6374500 Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities & Stockholders' Equity 510,000 374.000 884.000 $1.547.000 467,500 340.000 807.500 $1.445.000 Sales Revenue $1.615,000 $1,513,000 Less Cost of Goods Sold 7751 000 (731.000) Gross Profit 864,000 782,000 Expenses: Depreciation Expense 153,000 116,000 Salaries and Wages Expense 401.000 377000 Interest Expense 24,000 34,000 Loss on Sale of Equipment 12.000 0 Income Before Taxes 274,000 255,000 Less Income Tax Expense 110.000 102.000 Net Income $1640.00 $153.000 Additional Information: During the year, the company sold equipment with an original cost of $147.000 and accumulated depreciation of $119,000. They purchased new equipment for $266,000 Required: Prepare a statement of cash flows for the year ending December 31, 2020